Trevena Inc (NASDAQ:TRVN)’s stock price shot up 6% on Thursday . The stock traded as high as $0.76 and last traded at $0.71, 1,060,890 shares changed hands during mid-day trading. A decline of 31% from the average session volume of 1,544,777 shares. The stock had previously closed at $0.67.
TRVN has been the subject of a number of analyst reports. HC Wainwright reissued a “buy” rating and set a $3.50 target price on shares of Trevena in a research note on Tuesday, November 5th. ValuEngine upgraded shares of Trevena from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Zacks Investment Research cut Trevena from a “hold” rating to a “sell” rating in a report on Saturday, November 23rd.
The company has a current ratio of 3.31, a quick ratio of 3.31 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $62.45 million, a price-to-earnings ratio of -1.70 and a beta of 2.54. The firm has a 50-day moving average of $0.81 and a 200 day moving average of $0.95.
Trevena (NASDAQ:TRVN) last announced its quarterly earnings results on Monday, November 4th. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.01). Equities research analysts predict that Trevena Inc will post -0.28 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC acquired a new position in Trevena during the 2nd quarter valued at about $36,000. D. E. Shaw & Co. Inc. bought a new position in shares of Trevena in the second quarter valued at approximately $39,000. Jane Street Group LLC bought a new position in shares of Trevena in the second quarter valued at approximately $51,000. BlackRock Inc. increased its stake in shares of Trevena by 1.9% during the second quarter. BlackRock Inc. now owns 2,647,830 shares of the biopharmaceutical company’s stock valued at $2,727,000 after acquiring an additional 49,900 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Trevena by 80.6% during the second quarter. Bank of New York Mellon Corp now owns 133,925 shares of the biopharmaceutical company’s stock worth $138,000 after purchasing an additional 59,773 shares in the last quarter. 20.47% of the stock is owned by institutional investors and hedge funds.
About Trevena (NASDAQ:TRVN)
Trevena, Inc, a biopharmaceutical company, focuses on the development and commercialization of treatment options that target and treat diseases affecting the central nervous system. Its product candidates include Oliceridine injection, a G protein biased mu-opioid receptor (MOR) ligand that has completed Phase III clinical trials for the management of moderate-to-severe acute pain where intravenous administration is warranted; TRV250, a G protein biased delta- opioid receptor ligand, which is in Phase I clinical study for the treatment of acute migraine; TRV734, a small molecule G protein biased ligand of the MOR that has completed Phase I clinical study for the treatment of moderate-to-severe acute and chronic pain; TRV027 for the treatment of acute heart failure; and TRV045, a novel S1P modulator for managing chronic pain.
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